APAC automotive aftermarket wear and tear market to grow 3.7% through 2028

Factors like accident rates and driving patterns will drive growth.

The automotive aftermarket wear and tear market in Asia Pacific is set to expand at a compound annual growth rate of 3.7% from 2023 to 2028, according to a GlobalData report.

This sector, which includes crash repair parts, mechanical parts, wear and tear components, and tyres, is anticipated to expand from 1.4 billion units in 2023 to 1.68 billion units by 2028.

Madhuchhanda Palit, a GlobalData automotive analyst, noted that market growth will be influenced by a range of factors, including the number of on-road vehicles, accident rates, driving patterns, and demographics.

Countries with high reliance on personal vehicles, such as India and Thailand, are expected to see significant aftermarket demand. Additionally, factors like road conditions, traffic laws, and the adoption of advanced driver assistance systems may impact the demand for crash repair and other aftermarket components.